India’s crypto community scores a small victory over RBI. But a bigger battle awaits.

In the last two years, the ecosystem has lost more than just business. Even though the Supreme Court’s judgment on Wednesday will reduce friction for crypto startups, attract funding, and boost innovation, the lack of clarity on the legality of the technology can open a new front. The next challenge: getting a regulator that can set things in motion.

Friday, April 6, 2018: expunge, cryptocurrency lovers would cry. Wednesday, March 4, 2020: a red-letter day, they would cheer. In between, took root the story of a community that had nothing to ' hodl' on to but hope. In the last two years since a Reserve Bank of India (RBI) circular in April

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the judgment at least creates some pressure for the policy process (Sebi, various ministries) to move. For the last few years, everyone avoided the matter on the premise that it was sub judice,” says Sharma of Incrypt. Over to the policymakers. ( With additional reporting by Arti Singh) ( Graphics by Sadhana Saxena)

Friday, April 6, 2018: expunge, cryptocurrency lovers would cry. Wednesday, March 4, 2020: a red-letter day, they would cheer. In between, took root the story of a community that had nothing to ' hodl' on to but hope. In the last two years since a Reserve Bank of India (RBI) circular in April

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the judgment at least creates some pressure for the policy process (Sebi, various ministries) to move. For the last few years, everyone avoided the matter on the premise that it was sub judice,” says Sharma of Incrypt. Over to the policymakers. ( With additional reporting by Arti Singh) ( Graphics by Sadhana Saxena)

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